What Social Media Is Doing to Finance
The world’s first online-inspired bank run doesn’t bode well for the next major crisis
Financial panics are nothing new. But the strange little panic we’re enduring—one that started last week with a massive bank run causing the collapse of Silicon Valley Bank and that continued this morning with big sell-offs in the stocks of other regional banks—is arguably the first one in which social media, and particularly Twitter, has been a major player. And if the past few days are any indication, that does not bode well for the next major financial crisis.
Twitter has featured a useful flow of facts and analysis from informed
